JSE gains while investors mull over trade-war comments

The JSE entered its first day of gains this week with global markets mixed as investors pondered the latest reports in the US-China trade war.

President Donald Trump said that a trade deal between the US and China may be reached after the US presidential election in 2020.

“Trump seems to be playing hardball by saying that maybe it is best only to sign a deal after the 2020 elections. The next deadline in these talks is the US tariffs on China, scheduled to kick in on December 15. Will they be moved, will they be implemented or will some mini-deal be signed before then?” fund manager Vestact said in a note.

Earlier, the Shanghai Composite was down 0.23%, Hong Kong’s Hang Seng 1.25% and Japan’s Nikkei 225 1.05%. 

In Europe, the FTSE 100 was down 0.1% while France’s CAC 40 added 0.54% and Germany’s DAX 0.43%. 

At 10.57am, the JSE all share added 0.88% to 54,963.7 points and the top 40 0.96%.  Banks were up 1.49% and gold miners 3.08%. 

African Phoenix Investments climbed 4.17% to 75c. It said on Wednesday that it was looking into a merger with its new shareholder investment holding company, Zarclear.

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Source: businesslive.co.za